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Ag's and Meats heatup, Cotton


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Good Friday Morning Market Participants,

I try to be early suggesting this week pre qtr end which seems to be how some other players were thinking with beans popping into some levels. If the market is going to top, turn my levels play well like yesterday had a grey light trendline. Over in the overnight trade lit the bulls on a upside push.

Viewing charts, look for high or lows of bars if they contact my macro conditional TLs, like meal or when they get ticks over my levels that further buying ensues. This is how the funds work these markets in my humble opinion. I believe I can add either on good entry or especially exit levels where large stops orders are usually over upon crossing over or under. Risk can be as tight or long term as per your trader profile. For now I just give daily color and when situations exist. Long term I have been bullish in general and we are setting higher lows in grains over last year.

SOYBEANS- Beware, funds flipped this over 9.80. 9.84 has 2 levels, 9.89.5 next on upside. Backdrop is macro funds turn bullish pre qtr end has been cautioned. Risk now upside into qtr end mark to market imo. IF this was to close back under 9.80 this still can be top. We are not staying here for long.

Grains Bean levels 980

Meal- this is surprising to me, over 315 no shorts, 318.70 next on upside. See how brown TL and other levels currently playing.

Corn- Im bullish today over 3.53 and this market looks much better overnight, TL breakout over 353.

Gold, good bottom OLB yesterdays lows.

Buy Olive Extreme high impact cotton

Cotton0 67.86 is an OLB good and live now, tight stops under but this is decent sequence.

Feeders, buy stops over 157.30 into cattle on feed, the safest time to trade? Let me make my point because this is exactly like USDA in June at bottom is my feel. NOV- no selling over pink 157.10, risk is upside. Keep stops in Oct over highs.

Feeder Top

This feels like the beginning of some high impact moves possibly starting or turning. Todays soybean closing price will be important going into last week of Sept. Watch $ 9.79.

Many other markets moving so call if you want to talk markets.

Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product.

arp@WalshTrading.com

312.957.8248

Alan R. Palmer

Sr. Strategist

Toll Free: 1 888 391 7894

Direct: 1 312 957 8248

Fax: 1 312 256 0109

arp@walshtrading.com

WALSH TRADING INC.

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About the author


Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

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